Market Research Techniques & Research Methods Case Study

Market Research Techniques & Research Methods - Case Study Example The company operated or franchised 2,741 lodging properties worldwide, with 499,165 rooms as of fiscal 2005. These include 2,447 properties in the Americas, 26 in the Middle East and Africa, 79 in Asia, 105 in Europe and 76 in the UK. In addition, it provides 1,850 furnished corporate housing rental units (online Marriott International). The company's operations are grouped into five business divisions: full-service lodging, select-service lodging, extended stay lodging, timeshare and synthetic fuel (Marriott International Annual Report 2005). Despite being recognized as one of the largest players in the global hospitality industry, Marriott International has been for a long time been over dependent on the UK hospitality and tourism market. It has affected Marriott significantly as the economy slows down and real estate costs rise. The This study shall examine Marriott International implementation of results of marketing Research of is environment and competition that will provide critical information on how the organization will enhance their brand management and relationship-building marketing strategies. The present macro environmental changes in the global marketplace make it necessary for them to customize these strategies that should be consistent and supportive of overall organizational goals. Marriott International ought to scrutinize its business norms to be responsive to external changes, and still maintain competitive advantage over competitors. The current study wishes to concentrate on its relationship marketing efforts. Market Research Techniques & Methods for the organization's existing strategies and impact of the external environment with recommendations to improve will also be included 3. Marketing Environment Marketing activities are influenced by several factors inside and outside the business firm. These factors or forces influencing marketing decision-making are collectively called marketing environment. It comprises all these factors, which have san impact on market and marketing efforts of the Marriott International. According to Philip Kotler, marketing environment refers to "Eternal factors and forces that affect the company's ability to develop and maintain successful transactions and relationships with its target customer." The marketing environment of Marriott International may be broadly divided into two parts Microenvironment Macro environment Microenvironment implies the factors and forces in the immediate environment, which affect the company's ability to serve its market. These factors are given below: Suppliers Market intermediaries Customers Public Macro environment refers to those factors, which are external forces in the company's activities and do not concern the immediate environment. Macro environment are uncontrollable factors, which indirectly affect the concerns ability to operate in the market effectively. The components of macro environment affecting the company are as stated under (a) Demographic forces (b) Economic forces (c) Political and legal forces (d) Social and cultural forces (e) Physical forces (f) Technological forces (Source: Stephen, 2005, page